Samsung Electronics Co., the world's top mobile phone maker, said Monday it expects global sales of the latest Galaxy smartphone to surpass 10 million in July even as it struggles to keep up with demand because of component shortages.

SEOUL (Reuters) - Samsung Electronics Co expects sales of its new Galaxy S III, launched at the end of last month as a main rival to Apple's iPhone, to top 10 million during July, making it the South Korean group's fastest selling smartphone.

Samsung Electronics Co lost $12 billion in market value on Friday, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone.
The shares fell 6.2%, the most in more than nine months in Seoul after analysts at JPMorgan Chase & Co. cut profit estimates.

Samsung Electronics Co expects sales of its new Galaxy S III, launched at the end of last month as a main rival to Apple's iPhone, to top 10 million during July, making it the South Korean group's fastest ...